New company Benefets Package

[Guest Lorraine Peck]

I am researching what helps to retain employees, ex. what should be in the benefits package. this is a high tech. company, new, will grow rapidly. there is alot of competion for the best employees. what have people found helps to keep them. thanks

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LMP

[jeanine]

My personal favorite is our on-site fitness center which is open 24 hours a day. A lot of our employees rave about on-site childcare center; lukewarm response to dinners to go. Of course, cheap but extension health care coverage is also appreciated

[Guest nb]

Lorraine, why not ask your existing employees? What makes a benefit a "great" thing is going to depend on the individuals in the group. If you're going to have to compete for employees, better find out what they think is important.

[Guest nac]

I agree with nb; only your ees can tell you what turns them on.

However, we're competing heavily for techies as well and what we're finding is this:

Domestic partner benefits, especially same-sex. Very visible, low utilization and highly appreciated even by those who don't use it. (I had one tech guy tell me that he had turned down a job because a company DIDN'T offer DP benes; it was a matter of principle.)

Comprehensive health benefits, or significant cash compensation for having coverage elsewhere through a spouse or DP. Make sure you have dental coverage.

On-site child care is a biggie but only if you have a population that needs it.

I agree about meals to go - our response has been even worse than lukewarm. But on-site cafeteria services (NOT vending machines!) are significnt with our ees.

Work/life resource and referral services - anything in the "timesaver" category.

Matching contributions on the 401(k). Additional, more creative retirement plans like money purchase or profit sharing.

And, when all else fails, money is always good.

[Sheila K]

Lorraine Peck Member posted 11-23-1999 10:12

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thanks for the response to my bennefits questions. one problem is we are a very small company right now and will grow quickly next year. we are trying to get a good package together before we grow and then always make needed changes. so we are looking at what is out there now.

TO: NAC- what are work/life resourse and referral services??

thanks again, LO

(moved here from separate topic)

[Guest EMK]

To see what one work/life vendor can do for you (Work/Family Directions), go to www.wfd.com. In a prior job, my employer contracted with W/F Directions -- they are very good.

[Guest Ann-Christin]

Employees at our company love the independent healthcare advocacy service that we provide through CareCounsel of San Rafael, CA. Employees can call up and talk to a counselor who helps them with all the issues that come up as they use our health benefits programs. The service also takes a big load off our HR staff. The only problem is that I think a company has to have atleast 200 employees before they can sign up for CareCounsel. So may not be available to start-up companies.